Weekly Jobless
Claims Fall to , Lowest Level in
More Than a Year.
684,000 first-time jobless claims were filed last
week, down from 781,000 claims that were
filed in the previous week.
Economists had predicted
about 735,000 jobless claims.
Last week's number represents the
first time the new claims fell below 700,000
since the pandemic era began in March 2020.
Last week's claims also beat the record low
for pre-pandemic levels, 695,000 that
were filed in Oct. 1982.
The total number of
continuing claims also fell
by 264,000 to 3.87 million.
Despite the promising data, Fed
Chairman Jerome Powell stated the
Federal Reserve will maintain the growth
policies that are currently in place.
We will very, very gradually over time and with great transparency, when the economy has all but fully recovered, we will be pulling back the support that we provided during emergency times, Jerome Powell, Federal Reserve Chairman,
via CNBC